After the market close, Biogen (BIIB) filed an 8-K with the SEC reporting a new case of the potentially fatal brain disease known as PML or progressive multifocal leukoencephalopathy in a patient receiving their multiple sclerosis [MS] drug Tysabri, adding to the two new cases which were reported previously in July. Biogen is currently trading down by about 15% after hours while marketing partner Elan (ELN) is down by about 25% as of 5:15 PM. The news adds more uncertainty to Tysabri, which was removed from th
After the market close, Biogen (BIIB) filed an 8-K with the SEC reporting a new case of the potentially fatal brain disease known as PML or progressive multifocal leukoencephalopathy in a patient receiving their multiple sclerosis [MS] drug Tysabri, adding to the two new cases which were reported previously in July. Biogen is currently trading down by about 15% after hours while marketing partner Elan (ELN) is down by about 25% as of 5:15 PM. The news adds more uncertainty to Tysabri, which was removed from th
The following group of biotech companies have market caps of at least $300M with a one year stock price change that is below the iShares Nasdaq Biotech ETF (IBB) loss of 21.8% (Source: Google Finance, 10/25/08) with potential upside catalysts over the next year.
Alnylam Pharma (ALNY): $872M, -31.6%
Biogen Idec (BIIB): $12B, -48.4%
BioMarin Pharma (BMRN): $1.7B, -33%
Momenta Pharma (MNTA): $348M, -23.4%
Momenta and Novartis (NVS) expect to launch a generic version (M-Enoxaparin) of the injectable
The biotech industry is rapidly consolidating as big pharma companies put their cash stash to use in deals ranging from well-known large caps all the way down to unknown micro-caps in an effort to bolster their range of marketed products, late stage pipeline candidates, and drug discovery technology platforms.
Genentech (DNA) has rejected Roche's (RHHBY) $89 bid to acquire the remaining 44% of DNA it does not already own as insufficient. I think DNA could easily get $100 per share based on Eli Lilly's (LLY) $70 buyout of ImClo
As I have written previously on Pfizer (PFE), I continue to recommend shares of the Company as a turnaround play around the $15 per share level, which equates to an even fatter dividend yield of 8.5% since I first wrote about the stock in July trading two bucks higher before the market meltdown occurred. Despite significant patent challenges to Lipitor and other products in Pfizer’s portfolio over the next few years, the Company’s strong balance sheet, marketing muscle, and ability to bolster its pipeline through targeted acquisitions should
The FDA has published a table with the names of products and potential signals of serious risks and/or new safety information identified for these products during 1Q08 in the AERS database. The FDA notes that patients should not stop taking these medications and should consult their prescriber with any questions as the agency will investigate each of the claims further before taking action or issuing more definitive statements on the reported concerns. Some highlights from this table of produ
The FDA has published a table with the names of products and potential signals of serious risks and/or new safety information identified for these products during 1Q08 in the AERS database. The FDA notes that patients should not stop taking these medications and should consult their prescriber with any questions as the agency will investigate each of the claims further before taking action or issuing more definitive statements on the reported concerns. Some highlights from this table of produ
In July, Biogen-Idec (BIIB) and Elan (ELN), who co-market the multiple sclerosis drug Tysabri, announced two new cases of PML, a potentially deadly side effect. The stocks sold-off almost entirely. Biogen-Idec lost about 30% of its market share while Elan has lost over two thirds of its value.
I had previously recommended shares of Biogen-Idec right after the buyout rumors vanished and the stock was trading around 54. I had based that recommendation on the potential success of Tysabri.
TheStreet.com's Jim Cramer says the biotechs look sweet in a bank-led slowdown.
Thank you, New York Times. Remember just a couple of weeks ago, when The New York Times wrote about how Genentech's (NYSE: DNA) (Cramer's Take) Avastin was too expensive and the stock got cracked down to $77? I know Roche did. I bet that was the last draw. The dramatic decline in the dollar plus a sentiment that has spawn...
Biogen Idec, Inc. engages in the development, manufacture, and commercialization of novel therapies primarily in the areas of oncology, neurology, immunology, and cardiology in the United States and internationally. Its products include AVONEX for the treatment of relapsing forms of multiple sclerosis (MS); RITUXAN for the treatment of relapsed or refractory low-grade or follicular, CD20-positive, B-cell non-Hodgkin’s lymphomas, or B-cell NHLs; TYSABRI for the treatment of relapsing forms of MS; and FUMADERM, an immunomodulator for the treatment of severe psoriasis. The company’s other prod...
Recap of CNBC's Fast Money, Tuesday April 29. Click on a stock ticker for more analysis.
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ConcoPhillips (COP), Potash (POT), Wal-Mart (WMT)
Jeff Macke discussed oil’s 2% slide downward and thinks gold is a better short than oil, which hasn’t yet topped. Karen Finerman thinks the dollar has yet to hit bottom, and says the Fed should not cut rates.. Pete Najarian said investors are leaving oil, metals and agriculture behind after they have had amazing runs. He discussed POT’s and COP’s numbers and thinks investors should be willing to take some off the top, but with oil at $110,
4/2 - "We are maintaining our 2-Equal weight rating on shares of BIIB ahead of 1Q08 earnings results....BIIB is expected to report 1Q08 operating results over the next few weeks with primary focus on MS market dynamics for lead products Avonex and Tysabri. IMS prescription data suggest a sequential decline in Avonex sales to $485M from $503M and below Consensus of $494M. Tysabri sales are more difficult to gauge although 5% growth in IMS prescription trends would suggest $135M in WW sales which is in the mid point of a wide $100-150M Consensus range"
"We continue to believe that BIIB guida...
Biogen Idec Inc., is involved in the development, manufacturing and commercialization of therapies in the areas of oncology, neurology and immunology. The Company has five products: AVONEX (interferon beta-1a), RITUXAN (rituximab), TYSABRI (natalizumab), ZEVALIN (ibritumomab tiuxetan) and FUMADERM (dimethylfumarate and monoethylfumarate salts). In Novemb
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